Fairwinds Credit Union 401(k) Review & Grade
Fairwinds Credit Union Retirement Savings Plan
Orlando, FLFinance & Insurance585 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,292Employer $ per active participant
$7,277Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$91.2MNet plan assets, end of year
$126,299Average balance per account
Score breakdown
- Employer generosity29.8 / 5060th percentile for employer $ per participant
- Low cost12.9 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 60th |
| Lower admin cost | 52th |
| Employee saving | 52th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,775 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fairwinds Credit Union put in about $4,292 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,510,860 |
| Participant (employee) contributions | $4,257,242 |
| Other contributions (incl. rollovers in) | $530,575 |
| Administrative expenses paid from the plan | $182,163 |
| Investment advisory & management fees | $96,263 |
| Benefits paid out | $6,166,102 |
| Net assets, start / end of year | $76.7M / $91.2M |
| Active participants, start / end of year | 575 / 595 |
| Participants with account balances | 722 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $85,915 reported compensation |
| NFP Retirement Inc. | $74,194 reported compensation |
| Strategic Advisors, Inc. | $22,069 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008113311NAL0009665344001, received 2025-10-08, EIN 11-1644012, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.